Flipping houses can be a highly profitable strategy in New Zealand — but how much can you actually earn doing it full time? In this guide, we break down the real numbers, risks, and rewards of becoming a full-time property flipper in the NZ market.
What Is Property Flipping?
Property flipping is when you buy a property (often below market value), renovate it to add value, and resell it for a profit — ideally within 6–12 months.
It’s popular because it can generate large cash profits in a short time frame without holding long-term debt or tenants.
How Much Do Full-Time Flippers Make?
- Per Flip: On average, a successful flip in NZ can generate $30,000 to $100,000+ profit, depending on location, renovation scope, and market conditions.
- Annually: A skilled full-time flipper might complete 2–5 flips a year, bringing in $100,000 to $400,000+ annually.
- Profit Margins: A good target margin is 15–20% above total costs (purchase + reno + holding + sale).
Example Breakdown: Small Suburban Flip
| Item | Cost |
|---|---|
| Purchase Price | $580,000 |
| Renovation Costs | $60,000 |
| Holding & Legal Costs | $15,000 |
| Resale Price | $740,000 |
| Gross Profit | $85,000 |
Note: This is before tax. Flipping is considered income, not capital gain, and is taxable.
Costs to Factor In
- Real estate agent commissions (2–4%)
- Legal fees & builder reports
- Holding costs (interest, rates, insurance)
- Contingency buffer (unexpected repairs)
- GST or income tax if flipping as a business
Risks of Full-Time Flipping
- Market softening during reno can reduce profit or cause loss
- Renovation costs often blow out without tight project management
- Harder lending rules mean you may need strong equity or cash
- Flipping is a taxable business — no capital gains exemption
Tips for Successful Flipping
- Buy under market value — profit is made when you buy, not sell
- Focus on cosmetic renovations for faster turnaround
- Use trusted, reliable tradespeople and tight timeframes
- Know your numbers down to the last dollar
- Always get legal/accounting advice on tax structuring
Final Thoughts
Full-time flipping can be lucrative — but it’s not for the faint-hearted. It requires strong project management, local market knowledge, and an appetite for calculated risk.
If you’re prepared to treat flipping like a business, many investors have built six-figure incomes (or more) from doing 2–4 deals a year.
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